Fair Isaac talks $400 million eight-year bullet at 5 3/8% area; pricing Tuesday

By Paul A. Harris

Portland, Ore., May 1 – Fair Isaac Corp. talked its $400 million offering of non-callable eight-year senior notes (Ba2/BB+) to yield in the 5 3/8% area, according to market sources.

Official talk comes tight to initial price talk in the 5½% area.

Books close at 2 p.m. ET on Tuesday, and the deal is set to price thereafter.

Wells Fargo Securities LLC is the left bookrunner for the Rule 144A and Regulation S for life offering. BofA Merrill Lynch, HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC and U.S. Bancorp Investments Inc. are the joint bookrunners.

The San Jose, Calif.-based data analytics company plans to use the proceeds to repay debt under its unsecured revolving credit facility.

Fair Isaac provides products, solutions and services that enable businesses to automate, improve and connect decisions to enhance business performance.

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